Amcor plc (NYSE:AMCR) Holdings Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 399,148 shares of the company’s stock after purchasing an additional 44,788 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Amcor were worth $3,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Amcor by 12.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock valued at $2,377,000 after buying an additional 27,077 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Amcor by 173.4% during the fourth quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock valued at $3,006,000 after purchasing an additional 197,760 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Amcor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock worth $517,349,000 after purchasing an additional 325,747 shares during the period. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Amcor by 60.0% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after purchasing an additional 225,441 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Amcor by 20.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock valued at $12,974,000 after purchasing an additional 227,145 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.60 on Wednesday. The stock has a market cap of $13.88 billion, a P/E ratio of 21.33, a P/E/G ratio of 5.33 and a beta of 0.86. The firm’s 50-day simple moving average is $9.91 and its 200 day simple moving average is $9.55. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $10.51. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. Amcor’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Equities analysts expect that Amcor plc will post 0.7 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company started coverage on shares of Amcor in a research report on Friday, June 28th. They issued an “equal weight” rating and a $9.80 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.93.

Amcor Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.